Capitalism is just the "Law of the Jungle" It is the way, nobody gives a ^%$ about anybody. Good or evil do not matter in a capitalistic system. It is about power and control either you have it or you are getting it. What ever it takes to get the money and influence. People with morals and scrupples are at a disadvantage because they become fodder for those without. Like a bunch of lemmings they will be run off the cliff into debt ... or worse. Welcome to Neo Feudalism, Akuma BUY GOLD!
Getting rid of the GSEs hits home process hard because it means the end of low downpayment 30 year mortgages. Without government (ie taxpayer) backstops, the private market has never supported mortgages with less than 50% down (70% was normal) and never longer than 7 years (3 to 5 was normal). Under those conditions, a family earning $50k and saving 10% a year will be able to afford a $50k home after five years of scrimping - and god forbid values happen to go down when the ballon payment comes up. I do not believe most Americans understand how much of their "wealth" has come from a socialist parlor trick.
I think a lot of the under 25s look with some horror and trepidation at the corporate system engulfing the world. Fatcats in suits on 7 figure salaries dominate and get most of the pickings. While the young are asked to do the crap jobs like catering on a big mac counter. The cliff to climb looks nearly impossible and the same goes for the housing and education ladders. 85% do boring and repetitive jobs. The prospect of that sort of life doesn't hold much appeal. A more adventurous life in the army means fighting the wars started by Bush/Blair. If your daddy isn't rich then one's prospects might seem somewhat small. The system isn't fair and nor are the rewards - hence the trouble.
alot of under 25s have never worked a real job in their entire life. alot of successful millionaires once worked menial jobs when young. these kids have skewed expectations on life. i know college grads in ny who refuse to accept a job paying 30k cos it's too low and would rather not work. Lot of those. Such is the times of a spoiled lazy culture living pipe dream.
I remember reading this book by Lee Kuan Yew, Singapore's founding father and then prime minister. He said that anyone who wants to go to university will have the opportunity to do so, but SOMEONE has to sweep the streets. Think about that for a minute.
Sure why not this seems like a great system. It is a sure fire way to kill ambition. I went to school that had mostly wealthy people they have different life they live by different rules and have different opportunities. Being born into wealth make the road to sucess alot easier, it get paved with 100 dollar bills. Those that are not, well they get the booby prize a pie full of hope that gets slapped in thier face. Wealthy people get taught a different set of values about what is important in life, THE MONEY, The end all be all to everything. The masses are pretty much placated in the states I was just reviewing the worlds largest employers and I was not surprised. Like a party that has gone bad people are just starting to walk away from it. They need a new system to poor, their minds into and place thier every fragile trust into willingly. Wage slaves want to believe that they will be taken care for thier loyalty and labor. When they keep getting thrown under the bus they start to question the authority. Welcome to Neo Fuedalism, Akuma Always buying Diamonds, Ivory and Gold